Howes: More “transpacific belly-bumping” as China considers reducing tariffs on foreign-made cars
The news from Beijing this week is that China's President Xi Jinping is "open" to reducing the 25 percent tariffs on foreign-made cars, trucks, and SUVs. The leader is also open to full foreign ownership of auto companies in China.
It sounds like a big deal, but is it?
Detroit News business columnist Daniel Howes joined Stateside to break down the potential tariff reduction, the atmosphere of trade negotiations between China and the U.S., and China’s increasing grip on the automobile industry.